HOUSTON and LONDON, Nov. 27, 2024 (GLOBE NEWSWIRE) -- LyondellBasell (NYSE: LYB), a leader in the global chemical industry, today announced Michael McMurray, executive vice president and chief financial officer, will participate in a fireside chat at the 2024 Goldman Sachs Industrials and Materials Conference in New York on Wednesday, December 4, 2024, at 8 a.m. EST. Webcast and Presentation Slides AccessA live webcast can be accessed at the time of the event at https://investors.lyondellbasell.com/events-a ...

HOUSTON and LONDON, Nov. 22, 2024 (GLOBE NEWSWIRE) -- LyondellBasell (NYSE: LYB) today announced that effective March 1, 2025, Michael McMurray will retire as executive vice president and chief financial officer and will be succeeded by Agustin Izquierdo, currently the company’s senior vice president, Olefins & Polyolefins Americas & Refining. Until he assumes the role of chief financial officer, Izquierdo will continue to serve in his current role. "We are grateful for Michael McMurray's significant contri ...

HOUSTON and LONDON, Nov. 22, 2024 (GLOBE NEWSWIRE) -- LyondellBasell (NYSE: LYB) today announced it has declared a dividend of $1.34 per share, to be paid to shareholders on Dec. 9, 2024, with an ex-dividend and record date of Dec. 2, 2024.About LyondellBasell We are LyondellBasell (NYSE: LYB) ― a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, ...

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Shares of LyondellBasell Industries (NYSE: LYB ) have been a poor performer over the past year, losing 4% despite a strong equity market. Ongoing weakness in China and concerns about a rebound in growth have been major headwinds forOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me know!Analy ...

Third Quarter 2024 Earnings November 1, 2024 Cautionary statement The statements in this presentation relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. When used in this presentation, the words "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "pr ...

LyondellBasell (LYB) reported $10.32 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 2.9%. EPS of $1.88 for the same period compares to $2.46 a year ago.The reported revenue represents a surprise of +0.49% over the Zacks Consensus Estimate of $10.27 billion. With the consensus EPS estimate being $2.03, the EPS surprise was -7.39%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...

LyondellBasell Industries N.V. (NYSE:LYB) Q3 2024 Earnings Conference Call November 1, 2024 11:00 AM ET Company Participants David Kinney - Head of Investor Relations Peter Vanacker - Chief Executive Officer Michael McMurray - Executive Vice President and Chief Financial Officer Kim Foley - Executive Vice President of Global Olefins & Polyolefins and Refining Aaron Ledet - Executive Vice President of Intermediates & Derivatives and Supply Chain Torkel Rhenman - Executive Vice President of Advanced Polymer S ...

Financial Performance - Revenues for Q3 2024 decreased by $236 million, or 2%, compared to Q2 2024, primarily due to lower volumes and average sales prices [110]. - Operating income for Q3 2024 decreased by $168 million, or 17%, compared to Q2 2024, with declines in I&D, Refining, APS, and Technology segments [114]. - Comprehensive income decreased by $211 million in Q3 2024 compared to Q2 2024, primarily due to a decrease in net income [121]. - Total operating revenues for the company were $10,322 million in Q3 2024, down from $10,558 million in Q2 2024, and $30,805 million for the first nine months of 2024, compared to $31,178 million for the same period in 2023 [128]. - Operating income for the total company was $802 million in Q3 2024, down from $970 million in Q2 2024, and $2,476 million for the first nine months of 2024, compared to $2,738 million for the same period in 2023 [128]. - Revenue decreased by $358 million, or 4%, in the first nine months of 2024 compared to the same period in 2023, driven by lower average sales prices for oxyfuels and related products [144]. - The refining segment's revenue decreased by $825 million, or 11%, in the first nine months of 2024 compared to the same period in 2023, primarily due to lower product prices and sales volumes [158]. Cash Flow and Investments - The company generated $1,904 million in cash from operating activities during the first nine months of 2024, with $1,335 million invested in capital expenditures [106]. - Cash provided by operating activities was $1,904 million in the first nine months of 2024, reflecting earnings adjusted for non-cash items [168]. - Cash provided by operating activities for the first nine months of 2023 was $3,438 million, reflecting earnings adjusted for noncash items and cash used by working capital [170]. - In the first nine months of 2023, working capital components used $447 million of cash, primarily due to increases in accounts receivable and inventories [171]. - Capital expenditures in the first nine months of 2024 totaled $1,335 million, up from $1,047 million in the same period of 2023, with approximately 75% supporting sustaining maintenance [172]. - The company sold its EO&D business for $700 million and invested approximately $500 million to acquire a 35% stake in the NATPET joint venture in the second quarter of 2024 [173]. Segment Performance - Integrated polyethylene margins in the O&P-Americas segment increased due to favorable ethane and natural gas costs, along with higher polyethylene prices [103]. - O&P-Americas segment revenue increased by $56 million, or 2%, in Q3 2024 compared to Q2 2024, and by $363 million, or 4%, in the first nine months of 2024 compared to the same period in 2023 [132]. - EBITDA for the O&P-Americas segment rose by $88 million, or 13%, in Q3 2024 compared to Q2 2024, and by $250 million, or 15%, in the first nine months of 2024 compared to the first nine months of 2023 [134]. - O&P-EAI segment revenue decreased by $33 million, or 1%, in Q3 2024 compared to Q2 2024, but increased by $329 million, or 4%, in the first nine months of 2024 compared to the same period in 2023 [138]. - EBITDA for the O&P-EAI segment improved by $11 million, or 16%, in Q3 2024 compared to Q2 2024, and by $49 million, or 42%, in the first nine months of 2024 compared to the first nine months of 2023 [140]. - The refining segment reported a loss of $92 million in Q3 2024, compared to a loss of $57 million in Q2 2024, and a loss of $125 million for the first nine months of 2024, compared to a profit of $234 million for the same period in 2023 [128]. - EBITDA for the Technology segment decreased by $27 million, or 9%, in the first nine months of 2024 compared to the same period in 2023, attributed to lower catalyst margins and licensing results [165]. Tax and Expenses - The effective income tax rate for Q3 2024 was 18.8%, a decrease from 21.2% in Q2 2024, influenced by changes in pre-tax income and exempt income [119]. - SG&A expenses increased by $79 million, or 7%, in the first nine months of 2024 compared to the same period in 2023, mainly due to higher employee-related expenses [113]. - The company reported a total depreciation and amortization expense of $381 million in Q3 2024, down from $387 million in Q2 2024, and $1,133 million for the first nine months of 2024, compared to $1,154 million for the same period in 2023 [129]. Shareholder Returns and Debt - In the first nine months of 2024, dividend payments totaled $1,283 million, compared to $1,204 million in the same period in 2023 [176]. - The company plans to target shareholder returns of 70% of free cash flow over the long term, defined as net cash provided by operating activities less capital expenditures [180]. - As of September 30, 2024, total debt was $11,260 million, with total unused availability under credit facilities amounting to $4,650 million [181][182]. - As of September 30, 2024, cash and cash equivalents totaled $2,621 million, including $1,223 million held outside the U.S. [181]. Future Outlook - In the fourth quarter of 2024, the company expects operating rates of 85% for O&P-Americas assets, 60% for European O&P-EAI assets, and 75% for I&D assets [187]. - The company repurchased approximately 1.2 million shares for $117 million in the first nine months of 2024 under its share repurchase authorization [185].